Hi there, I'm a high school senior and I am doing research into multiple careers that I am considering; medicine, ibanking, law, etc.
I was just wondering what the respective pros and cons of this career (ibanking) are? Just to get an idea of the job and the lifestyle one would lead pursuing this profession.
there are thousands of webpages and posts out there on this topic. if u can't find this on ur own, don't bother considering banking as ur career.
I see that the people in this field are extremely affable and welcoming.
You're an idiot
ahahah
This is an banking board. There are a lot of shit threads on this board, and while this is a good topic, it has been discussed ad nauseum in the past. Spend an hour doing searches and reading through some threads and you will begin to find that there is a lot of good information on this board.
Not posting repetitive topics will make the board even better, since it (obviously) annoys people when "stupid" questions are asked, and the less annoyed people, the more people will contribute, etc.
pros: interesting working with other young ppl working with smart ppl you don't need an advanced degree pays well
cons: lifestyle is horrible may wind up working with people you dont like
thank you jimbo
Go into Computer Science. Banking is a very difficult industry to break into with very crappy hourly pay and poor exit ops.
Major in CS and you might create an app than can make you millions / billions before you even start your career. Or you could get paid 80k a year to work 30 hrs / wk and work from home. Or maybe just a SEO business that rakes in 200k / yr
Poor exit opps? And as you move up, the pay per hour gets better
Your favorite thing about IB life (Originally Posted: 11/21/2011)
Just before I embark upon a career in IB, I was wondering from those of you that have experience - what is your favorite thing about IB??? I know there are some downsides, but what are the things that drive you and make you smile in IB?? Thanks
Bonus hitting my bank. Tombstones. Securing the "exit op."
Not paying for dinner... ever.
Would it be a faus pas to always order more than you can actually eat (up to your bank's limit of $30), and then eat it for brekky/lunch the next day?
Financial Wizardry :D
The prospect of getting out...banking's not actually terrible, but the idea of getting my dream job makes me get up everyday.
It is nice not having to worry about money. I can't exactly ball out, but I don't have any desire to. For somebody that grew up poor, just not worrying about ordinary expenses is pretty great. I am a frugal guy, but occasionally buying an overpriced cup of coffee feels really awesome.
On the job, I work with pretty cool people.
Seamlessweb can be nice if you have time to eat something good, and aren't just ordering energy kitchen to choke down quickly because you are so busy.
Car service is less awesome than I thought it would be going in...half the time the subway's faster.
$ :)
What's your dream job West Coast?
I'll let you know when I find out lol.
In all seriousness though, my dream job would probably be with a buyside, fundamentals-oriented investment manager. It sounds vague, but I care as much about the people I work with as I do whether it is a long-only asset manager vs. hedge fund.
I find mezzanine and PE very interesting, but do not think I ever would want to be responsible for transaction origination. As I would eventually need to start sourcing deals to advance, I am looking more towards the public markets.
As you might guess, I have a strong bias for firms in California, albeit outside of downtown LA. Not having a big focus on getting a MBA is a plus, as well as having a track record of promoting from within. Work-life balance is important too.
That being said, there are certainly exceptions. One of the employers I am most impressed by is a large traditional asset manager in Boston.
"I'm an investment banker."
that's really sad if true
The money....I need a new job...nothing about this job really excites me anymore
I'd hope so... I'd be pretty pissed off if there's some guy working in IB for the sole reason of saying that he's a banker haha
Yea me too, but I'm sure there is one out there somewhere. Realistically I'm in it to learn as much as I can as fast as I can to catalyze my career and position myself well for a top business school and beyond! The money isn't terrible either though ;)
Quit with the fucking emoticons.
OP - The endless amouts of pussy that this simple pick up line brings. "I work on the buy side" You have to pay your dues on the sell side first.
Not having to be so damn frugal. I can purchase clothes, accessories, electronics and steak dinners if I feel like it. Of course, I'm not making millions so I don't spend recklessly, but it is very cool not being burdened by guilt after dropping $200+ treating a good friend to dinner.
Meal allowance.
There's never any traffic when you leave the office.
Having a high enough salary to live comfortably. Also being in M&A etc. gets you a certain level of respect even from people in business (most of my friends run family companies, and while they think I make a bit too much money, they understand why).
Closing dinners and random smokeshows at other firms
wondering why no one says "models & bottles"???
p.s. models = financial models....lol
That mostly applies to s&t...apart from eventually going buyside not sure what a banker has to look forward to
The dreamy russian blonde banker that sits next to me makes my heart melt.
^ You talking to me?
Sry bro.. I am into chicks
endless shallow girls to fuck. $ and exit ops
I've never done a IB stint but the one thing I am 'jealous' of is the benefit of having a BB name on a CV, particularly when, like me, you work at a boutique whose name the average joe wont have heard in all likelihood.
Having said that I've always worked buyside and have no desire to swap over!!!
I'm at a megafund now. But I love buying bottles and laughing at poor people.
Note that all the answers here had nothing to do with the actual job hahahaaaaa
dropping my lucites out of the 33rd floor window on OWSers
haha good call. for some reason i get a warm feeling when i get my tombstone.
I love working one-on-one with CEOs of the world's largest and most influential corporations, structuring transactions that add significant value to their companies. My financial and strategic guidance significantly influences these F500 CEOs as they make business decisions that will dramatically change the world and solve the economy's most pressing issues.
I also have a passion for Microsoft Office.
That's exactly what I am hoping for. I feel that if it were simply for the $$$ you'd be either depressed or out of a job. I love your perspective Swagon
9 months into the job and there is nothing cool about working on the sell side.
This is the epitome of perfection. I am an avid believer in #6 :)
Feeling like you're better than everyone else from high school or the plebs at your school who aren't making 6 figures out of college... but actually hating your life and wanting to blow your fucking brains out every day.
No, there's really nothing to like about the lifestyle
Eddie,
What a douchebag that guys is. He's a analyst at a bank and he's acting like he just IPOed his tech company.
Don't you think he got fired after his higher ops saw this?
He did, LOL
Oh please have proof that he did.... that would make me very happy.
That guy is such a fucking tool... nothing cooler than having to tell everybody how good of a time you are having, constantly.
exit opps
There's also nothing cool about working on the buy side, for the most part.
Or any job where you're not the boss.
most of the ibankers i know personally are fucking assholes
The ironic thing about banking is that it’s full of overachieving, highly ambitious people who only want to make it to the top of their field but can’t because its full of overachieving, highly ambitious people.
after reading this thread i'm picturing a young finance student with an angel/devil speaking in his/her ear. Devil is saying "$$$$", angel is saying "no you should do something good for society, major in non-profit-biz instead, go into the peace corps after school and then become an exec director at Habitat for Humanity" -- hmm i wonder which one will win
FAVORITE THING ABOUT IB?!?!?????!???????????????????????????????
the cash. the booze. the reckless spending. dollar billz.
the cash.the russian pussy. the european cars. the jets. the cash. the shameless indulgence (i once cried because they ran out of $500 silverware and I had to resort to plastic forks for my noodles).
i'm just here to conquer and consume bitches. im all about gettin that paper.
in the words of TI and Rihanna, "i got my mind of ma money, and i ain't goin no where---ay ay"
what.ha i once cried because I ran out of plastic forks so had to crack open the case of $500 gorham sterling flatware to eat my scrambled eggs, (i hate washing dishes)
lol its probably the analysts I met - few of my best friends.
I can't imagine why there are any responses other than cash
hunks and bottles
My favorite thing about IB life: telling girls you work for an investment bank...
New York Girl: So what do you do? Me: I work for an investment bank Girl: You and everyone else in this town
Los Angeles Girl: So what do you do? Me: I work for an investment bank Girl: So... you're like, a bank teller?
San Francisco Girl: So what do you do? Me: I work for an investment bank Girl: Uuuugh (makes disgusted face and walks away)
This is so true. In NYC, you will probably get the most recognition being in Finance. In LA, no one gives a shit. In SF, they either hate you or don't know what you do since everyone is a developer or working for some Tech company.
This. A thousand time this. Also trying to explain to your family what you do...only to have them relay their experience at the local retail bank branch office.
lol
There are a lot of good things if you work in IB
1)You have every right to be arrogant to everyone who is inferior to you
2)You will make a good amount of money and in case you are fucking good ,you will be able to buy everyone and everything
3)You will have prestige and money and you will attract almost every woman you like
^ lol
America, fuck yea
What grinds my gears is when someone says they work in IB but they're BO...not really quite the same thing when a girl says "so does everyone else in this town"
Just curious, how many of you guys use your job title to get laid. And if so, does it work? I'm not a banker, but I try to speak about work as little as possible. I'll just say I work in finance and leave it at that, and that is only if the girl asks me.
Back when I was a whee lad, used to have crazy delusions that being an investment banker would get me laid. Boy has reality been humbling. Now I try to avoid the subject during conversation - it has a much bigger impact when they're not expecting that you actually have you're shit together. But that's been me and my experience. I'm sure in NY it's a different story.
Being an IBanker does not help one to get laid.
Although I was only an intern I was out in the city a couple of times, and I learned that you should probably just avoid that conversation
Do people get angry at you if you bring it up or something?
Why would you bring it up?
saying you're currently occupying wall street / work in wells fargo commercial banking will get you laid as much as GS TMT. them pretentious bitches in nyc don't give a rats ass..
What is best in IB life?
To crush your enemies, to see them driven before you, and to hear the lamentation of the women.
i always went slightly over my EA. i want to grab every last penny of it. man i had some wonderful meals during my banking days. dee-licious.
Do you really get guaranteed pussy at NYC clubs? Most of these skanks don't even know what investment banking is. I think its more about you having $ to buy bottles and ball out than them actually know anything about high finance.
^^^^ If this is what you think banking is about, you will never make it...
I'm not even interested in ibanking was just wondering if thats the case lol.
Models and bottles really refers to financial models and perrier bottles (likely purchased on seamless) as you slave away in your cube.
Those that think that models and bottles actually happens are delusional suckers who piss away money and get little if anything in exchange. Working in finance doesn't get you laid, it provides you financial security at minimum risk... that's about it.
You get a company issued Pussy Card that has 100 Pussy Points (PP). You go to a NYC club that's a member of the Pussy Program (a program that icludes most BBs and clubs in NYC) and can redeem your points there for pussy. A fuck costs 10 PP, a blowjob costs 5 PP, and so on - that's the average price. If the card is issued by GS, one PP is more prestigious and buys more, e.g. a blowjob with a GS card can cost 1 PP. In contrast, if the card is issued by Wells Fargo or something similar, a simple fuck can cost you all your PP. Just find a skank, show her the card and swipe it at the bar to get points deducted before you get laid.
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